View Full Report
Executive Summary

In 2Q22, Coalition Index Investment Banking revenues were down by (8)% on a YoY basis.

FICC: The significant increase in FICC revenues came from Macro products, with upticks largely driven by increased volatility. Spread products declined due to spread widening.

Equities: Revenues increased marginally in 2Q22, driven by slight upticks in Equity Derivatives, Prime Services and Futures, partially offset by Cash Equities.

IBD: Revenues declined significantly across all products driven by normalisation in ECM and lower DCM activity.

Methodology

The Coalition Index tracks the performance of the 12 largest Investment Banks globally. It comprises:

  • 2016 to 2021: BofA, BARC, BNPP, CITI, CS, DB, GS, HSBC, JPM, MS, SG, UBS
  • The Coalition Index is refreshed for 1Q, 1H, 3QYTD and FY